A difficult Thanksgiving weekend set the stage for pullbacks by U.S. retailers and the WWD Global Stock Tracker.
The tracker, which follows 100 fashion, retail and beauty equities around the world, fell 0.97 points, or 0.9 percent, to 107.91 for its biggest percentage decline since a 1.3 percent drop on Oct. 15.
Reports of lackluster business — including the National Retail Federation’s estimate of an 11 percent drop in sales for the four-day the weekend — depressed retail issues, contributing to a 1.5 percent decline in the S&P 500 Retailing Industry Group, which ended the day at 995.82 after its second close above the 1,000 mark during Friday’s abbreviated session.
The seven largest declines of the day all came from U.S. retailers and brands, with American Apparel Inc.’s 10.6 percent drop to 55 cents the largest on a percentage basis. J.C. Penney Co. Inc. shares were off 6 percent to $7.53 while both Quiksilver Inc. and G-III Apparel Group Ltd. were off 5.9 percent to $1.92 and $83.31, respectively. G-III is scheduled to report third-quarter results on Wednesday.
The Bon-Ton Stores Inc.’s shares slipped 5.3 percent to $7.97, Kate Spade & Co.’s were off 4.8 percent, and Express Inc. matched the decline at Kate Spade, landing at $30.49.
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Asian stocks dominated the list of gains, with Shanghai Metersbonwe up 5.3 percent to 11.90 yuan, or $1.94 at current exchange, and Matsuya Co. ahead 3.4 percent to 1,803 yen, or $15.20. Ted Baker plc was up 2.4 percent to 22 pounds, or $34.43, for the third largest gain, followed by Isetan Mitsukoshi Holdings Ltd., up 2.3 percent to 1,595 yen, or $13.44, and Giordano International Ltd., up 1.7 percent to 3.70 Hong Kong dollars, or 48 cents.
The strongest performance among U.S.-based tracker stocks came from Perry Ellis International Inc., up 0.4 percent to $26.50.
Vince Holding Corp. and Ascena Retail Group Inc. are slated to report quarterly financial results Tuesday. Vince shares fell 1.6 percent to $36.52 and Ascena’s stock shed 2.6 percent to close at $13.04.